Big Hit, YG, Universal Music and Kiswe Will Establish Joint Streaming Platforms

 Bighit Entertainment have joined forces to launched a streaming media platform.

South Korean media reported on Wednesday that YG Entertainment and Universal Music Group had become investors in KBYK Live, a company co-founded by Big Hit Entertainment and Kiswe.

Big Hit Entertainment and Kiswe signed a memorandum of understanding in May 2020 and set up a joint venture in September 2020. Their joint venture has launched a streaming platform called VenewLive, which is used as a platform for streaming online concerts for Big Hit Entertainment.

An advertising agency, Big Hit Entertainment said: 

"VenewLive together with YG and UMG becomes a revolutionary platform. Introduces high quality online concerts of international artists from Big Hit, YG and UMG and combine innovative diversity. Broadcast live from technology Kiswe."

Previously VenewLive is used for online concerts of BTS titles "BANG BANG CON: the Live" and "BTS MAP OF THE SOUL ON: E." online concert able to receive stable audio and video, although attracting nearly 1 million viewers from around the world at the same time.

The concert is surprisingly possible to watch in 4K / UHD quality and in a multi-view format, the viewer can change the view of the camera while watching the performers on stage, and has other features such as real-time chat, Bluetooth connection via light stick.

Choi Sung Joon, Chief Operating Officer of YG Entertainment, said: 

"Our agency will be positively influenced. The agency will invest in a streaming platform with advanced technology that will accommodate various artists who can enter the global market. We will continue to work hard to develop new services and provide diverse interactive experiences to fans around the world."